Innovation in bone healing and tissue repair
20 Apr 16
Kuros receives milestone payment from Checkmate

Schlieren (Zurich), Switzerland, April 20, 2016

Kuros receives milestone payment from Checkmate

Kuros Biosciences Ltd. (“Kuros” or the “Company”), has been informed by Checkmate Pharmaceuticals Inc., Cambridge, MA, USA (“Checkmate”) that the first melanoma patient has been dosed in a Phase 1b clinical trial with CMP-001, formerly known as CYT003. The trial is designed as a multi-center, open-label study of CMP-001 in combination with pembrolizumab for patients with advanced melanoma who have either progressed on anti-PD1 therapy or have failed to respond to at least 12 weeks of therapy.

In August 2015, Checkmate acquired exclusive access to Cytos’ clinically validated product candidate CYT003 as well as its VLP platform and to technology related to oligonucleotide synthesis for multiple products in the field of oncology. As a result of the first dosing of a patient with this licensed product candidate, Kuros will receive a milestone payment of USD 1 million from Checkmate. In this collaboration Kuros may receive up to USD 90 million in development milestones and may receive up to double-digit royalties on net sales from successfully developed products.

 

Didier Cowling, Chief Executive Officer of Kuros, commented: “We are very pleased that Checkmate has already advanced CMP-001 into a phase 1b clinical trial. Reaching this milestone only 10 months after signing the license agreement is a significant achievement. We wish to congratulate Checkmate on its progress and are eager to see how intra-tumoral therapy with CPM-001 will perform in combination with pembrolizumab in patients with advanced melanoma. “



Kuros Biosciences AG
Wagistrasse 25, 8952 Schlieren, Switzerland
Tel: +41 44 733 47 47   Fax: +41 44 733 47 40   Email: info@kuros.ch

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Article
20 Apr 16
Kuros receives milestone payment from Checkmate

Schlieren (Zurich), Switzerland, April 20, 2016

Kuros receives milestone payment from Checkmate

Kuros Biosciences Ltd. (“Kuros” or the “Company”), has been informed by Checkmate Pharmaceuticals Inc., Cambridge, MA, USA (“Checkmate”) that the first melanoma patient has been dosed in a Phase 1b clinical trial with CMP-001, formerly known as CYT003. The trial is designed as a multi-center, open-label study of CMP-001 in combination with pembrolizumab for patients with advanced melanoma who have either progressed on anti-PD1 therapy or have failed to respond to at least 12 weeks of therapy.

In August 2015, Checkmate acquired exclusive access to Cytos’ clinically validated product candidate CYT003 as well as its VLP platform and to technology related to oligonucleotide synthesis for multiple products in the field of oncology. As a result of the first dosing of a patient with this licensed product candidate, Kuros will receive a milestone payment of USD 1 million from Checkmate. In this collaboration Kuros may receive up to USD 90 million in development milestones and may receive up to double-digit royalties on net sales from successfully developed products.

 

Didier Cowling, Chief Executive Officer of Kuros, commented: “We are very pleased that Checkmate has already advanced CMP-001 into a phase 1b clinical trial. Reaching this milestone only 10 months after signing the license agreement is a significant achievement. We wish to congratulate Checkmate on its progress and are eager to see how intra-tumoral therapy with CPM-001 will perform in combination with pembrolizumab in patients with advanced melanoma. “